94,424 Shares in Semtech Corporation $SMTC Acquired by Cinctive Capital Management LP

Key Points

• Cinctive Capital Management LP opened a new position in Semtech during the fourth quarter, buying 94,424 shares valued at about $6.96 million. The stake represented roughly 0.10% of the company at the end of the reporting period.
• Semtech shares were reported down 7.0% and opened at $150.20, though the stock remains well above its 52-week low of $40.24. The company’s market cap is about $13.99 billion.
• Semtech beat quarterly expectations, posting $0.51 EPS on revenue of $291.02 million, and analysts have turned increasingly bullish with several price-target increases. The consensus rating is Moderate Buy with an average target of $179.73.

Cinctive Capital Management LP bought a new position in shares of Semtech Corporation (NASDAQ:SMTC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 94,424 shares of the semiconductor company's stock, valued at approximately $6,958,000. Cinctive Capital Management LP owned approximately 0.10% of Semtech at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Atreides Management LP raised its holdings in Semtech by 2.0% during the fourth quarter. Atreides Management LP now owns 691,591 shares of the semiconductor company's stock worth $50,963,000 after purchasing an additional 13,458 shares in the last quarter. Alta Park Capital LP raised its holdings in Semtech by 39.3% during the fourth quarter. Alta Park Capital LP now owns 283,726 shares of the semiconductor company's stock worth $20,908,000 after purchasing an additional 80,108 shares in the last quarter. Freestone Grove Partners LP raised its holdings in Semtech by 73.2% during the fourth quarter. Freestone Grove Partners LP now owns 277,634 shares of the semiconductor company's stock worth $20,459,000 after purchasing an additional 117,294 shares in the last quarter. Guggenheim Capital LLC raised its holdings in Semtech by 31.1% during the fourth quarter. Guggenheim Capital LLC now owns 18,110 shares of the semiconductor company's stock worth $1,335,000 after purchasing an additional 4,296 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its holdings in Semtech by 261.6% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 387,610 shares of the semiconductor company's stock worth $28,563,000 after purchasing an additional 280,413 shares in the last quarter.

Semtech Trading Down 7.0%

NASDAQ SMTC opened at $150.20 on Thursday. Semtech Corporation has a twelve month low of $40.24 and a twelve month high of $177.35. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.62 and a current ratio of 2.37. The stock has a market cap of $13.99 billion, a price-to-earnings ratio of -385.13 and a beta of 2.32. The firm's 50 day moving average price is $130.31 and its two-hundred day moving average price is $97.88.

Semtech (NASDAQ:SMTC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.06. Semtech had a negative net margin of 3.05% and a positive return on equity of 18.31%. The firm had revenue of $291.02 million for the quarter, compared to analysts' expectations of $283.53 million. During the same period in the previous year, the company posted $0.38 EPS. The company's quarterly revenue was up 15.9% compared to the same quarter last year. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Equities analysts anticipate that Semtech Corporation will post 1.81 EPS for the current year.

Insider Activity

In other news, CFO Mark Lin sold 9,186 shares of the business's stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $75.05, for a total transaction of $689,409.30. Following the transaction, the chief financial officer directly owned 32,710 shares in the company, valued at $2,454,885.50. The trade was a 21.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul V. Walsh, Jr. sold 500 shares of the business's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $138.21, for a total transaction of $69,105.00. Following the transaction, the director owned 23,279 shares in the company, valued at approximately $3,217,390.59. This represents a 2.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 25,160 shares of company stock worth $2,227,705. 0.48% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. B. Riley Financial lifted their price target on shares of Semtech from $165.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday, May 27th. Mizuho set a $225.00 price target on shares of Semtech in a research report on Wednesday, May 27th. Stifel Nicolaus lifted their price target on shares of Semtech from $157.00 to $188.00 and gave the stock a "buy" rating in a research report on Wednesday, May 27th. TD Cowen restated a "buy" rating on shares of Semtech in a research report on Tuesday, February 24th. Finally, Needham & Company LLC lifted their price target on shares of Semtech from $105.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, May 27th. Thirteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $179.73.

Semtech Company Profile

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company's products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech's portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.

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